103.002 – CRIMINAL PENALTY. (a) A lender commits an
Texas Business and Commerce Code § 103.002
Summary
This law prohibits lenders from paying for appraisal services in a way that influences the appraised value of a property. It affects lenders and appraisers involved in mortgage loan transactions in Texas, ensuring that appraisals remain unbiased and fair.
Lenders cannot pay appraisers based on property value estimates.
Payments must not interfere with the appraisal process.
Violations may result in criminal penalties for lenders.
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In simple terms: Learn about Texas's CRIMINAL PENALTY. (a) A lender commits an law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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